Economic Indicators

South Korea Sept consumer inflation +1.6% y/y, way below forecast

2024.10.01 19:32

SEOUL (Reuters) – South Korea’s consumer inflation cooled more than expected in September and hit the weakest level since early 2021, official data showed on Wednesday.

The consumer price index rose 1.6% in September from a year earlier, after a rise of 1.9% in August, according to Statistics Korea.

© Reuters. FILE PHOTO: A woman shops at a market in Seoul, South Korea, July 26, 2016. REUTERS/Kim Hong-Ji/File Photo

It was weaker than a median 1.9% increase tipped in a Reuters poll of economists and marked the weakest annual increase since February 2021.

The index rose 0.1% on a monthly basis, also slower than gains of 0.4% the previous month and 0.3% expected by economists.



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